Student financial aid and degree attainment

This research examines the relationships of student aid with degree attainment using a sample of aid recipients, nonrecipients who applied for aid but were not eligible, and a representative group of controls selected from the 1970–1971 entering freshman class at Washington State University. When the other independent variables are statistically controlled, student aid is found to have a very small positive association with degree attainment. The denial of aid to those who were not eligible decreases their likelihood of graduation. A grant, loan, and work study package is found to be the most effective for enhancing degree attainment. The loan-grant package is also positively related to degree attainment, but the grant-loan package is detrimental to the completion of a college degree.